Duke Energy has announced that it has acquired Catamount Energy Corporation from funds affiliated with Diamond Castle Holdings LLC. This transaction will significantly increase Duke Energy's wind energy operations. The transaction is valued at approximately US $240 million plus assumed debt.
Catamount Energy was formed in 1992. Since 2001, the company has focused on developing wind projects in the U.S. and UK. Catamount has approximately 300 megawatts (MW) of renewable energy in operation, including its interests in the Sweetwater project in Nolan County, Texas, which is one of the largest wind projects in the world. Additionally, Catamount has approximately 1,750 MW of development interests in several U.S. states and the UK.
"This acquisition reinforces Duke Energy's commitment to clean, renewable energy as a major component of electricity generation throughout the U.S.," said Wouter van Kempen, president of Duke Energy Generation Services (DEGS), a business unit of Duke Energy that owns and develops renewable energy assets.
